New business formation

Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and excitement has worn off that dictates whether or not a small business will make it. It’s up to you to keep and prolong the “excitement and excitement” period forever.

It takes a methodical action plan to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners commit when starting their new venture.

HOW DO WE HELP YOU?

1. We prepare an initial business plan to clarify your financial, management and marketing plans.
2. We help you determine your initial capital needs.
3. We help you identify sources of start-up capital and backup sources if necessary.
4. We evaluate and quantify your borrowing power to know how much money you can have in your hands if you need it.
5. We select the business structure that best suits your needs by evaluating tax advantages, legal exposure, ease of operation, and portability should you need to relocate.
6. We select the right accounting software by evaluating your budget, needs and hardware.
7. We prepare a cash flow budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
8. We help you establish billing and collection procedures to maximize your cash flow.
9. We establish procedures to monitor and control costs.
10. Set up a home office so you can maximize your tax deductions.
11. We prepare and file all required state and local licenses and permits.
12. We prepare and submit your application for your Federal Employer Identification Number.
13. We create the payroll and payroll tax return when you bring in your first employee.
14. We advise you to comply with labor laws so as not to receive fines or disgruntled employees.
15. We help you identify the insurance needs of your company.
16. We advise you to develop a solid Association Agreement. This is an extremely important document for all new partnerships and will help prevent a host of financial and emotional problems down the road.